Polymarket · Apple · Aave · Funding Round · Bitcoin · Strategy · Decrypt
Morning Minute: Kraken Eyes 15% Stake in Aave at $385 million Valuation
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Morning Minute is a daily newsletter written by Tyler Warner.
Key facts
- Kraken would invest 35,000 ETH(~$55M) in exchange for 250,000 AAVE tokens ($20M) and a 15% common equity stake in Aave Group, the company behind the protocol, a package worth roughly $71 million
- The driver is QNX, BlackBerry’s embedded operating system, which grew 26% to $72.3 million
- Kraken’s deal values the Aave company at $385B, but the AAVE token trades at a roughly $1.24B market cap
- Kraken is in talks to buy a 15% stake in Aave at a $385 million valuation
Summary
Crypto majors are mostly red down 1-5%, SOL leads; BTC at $59.5k. Tether’s USDT flips ETH in FDV after ETH slide, now 2nd biggest token. Kraken is in talks to buy a 15% stake in Aave at a $385 million valuation. Kraken would invest 35,000 ETH(~$55M) in exchange for 250,000 AAVE tokens ($20M) and a 15% common equity stake in Aave Group, the company behind the protocol, a package worth roughly $71 million.